# Hammerhead Navigation

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hammerhead-navigation

- Industry: Hardware
- Headquarters: Brooklyn, US
- Website: www.hammerhead.io
- Total disclosed funding: $12M
- Latest round: Series A (Jun 30, 2020)
- Investors on record: 8

## About

Hammerhead Navigation develops advanced cycling computers that enhance performance and navigation for cyclists. Their products integrate sophisticated technology and connectivity features, catering to both recreational and professional cycling audiences.Founded in 2013 in Brooklyn, US, Hammerhead Navigation designs high-performance cycling computers. The company has successfully raised USD 7.00 mn in Series A funding, led by Next Ventures. Jon Morgan and Pieter Morgan are the founders, with Pieter currently serving as CEO. The latest deal occurred on January 20, 2022, where SRAM, LLC acquired Hammerhead Navigation, with financial terms undisclosed.Hammerhead specializes in high-performance cycling computers, with its flagship product being the Karoo series, designed to enhance the cycling experience through advanced navigation and performance tracking. The Karoo devices feature a touchscreen display that offers superior clarity and responsiveness, supporting ANT+ and Bluetooth connectivity for seamless integration with various cycling accessories. These computers enable cyclists to access real-time data visualizations, plan and manage routes through the Hammerhead Dashboard, and receive in-ride alerts on navigation, traffic, and performance milestones. The company targets enthusiastic cyclists and professional athletes in North America, Europe, and Asia, focusing on providing technology that empowers users to unlock their athletic potential.Hammerhead generates revenue through direct-to-consumer sales and partnerships with retailers, primarily from the sale of its Karoo cycling computers and associated accessories. The pricing structure includes individual products such as the Karoo Mount (USD 45.00), Heart Rate Monitor (USD 70.00), and various mounting accessories ranging from USD 6.00 to USD 17.00. By offering both standalone products and potentially bundled offerings, Hammerhead caters to a diverse clientele, including recreational and professional cyclists. Customers can purchase items directly from the Hammerhead website, streamlining the buying experience and fostering brand loyalty within the cycling technology market.In January 2022, SRAM, LLC acquired Hammerhead Navigation. The acquisition will likely enable Hammerhead to leverage additional resources for developing new products and expanding its market reach. The company aims to introduce enhancements to the Karoo series while exploring entry into new geographic regions, particularly targeting growth in Asia and Europe over the coming years.

## Funding rounds

- Series A, Jun 30, 2020, $7M — Next Ventures
- Seed, Mar 7, 2019, $4.1M — Maveron, KB Partners, Drummond Road Capital, Primary Ventures, Courtside Ventures
- Seed, Dec 1, 2013, $1.2M — Techstars, FG Angels

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- FG Angels — Seed
- Maveron (https://capitalatlas.ai/funds/maveron) — Seed
- KB Partners (https://capitalatlas.ai/funds/kb-partners) — Seed
- Drummond Road Capital (https://capitalatlas.ai/funds/drummond-road-capital) — Seed
- Primary Ventures (https://capitalatlas.ai/funds/primary-ventures) — Seed
- Courtside Ventures (https://capitalatlas.ai/funds/courtside-ventures) — Seed
- Next Ventures (https://capitalatlas.ai/funds/next-ventures) — Series A